Management and Gilde Buy Out Partners acquire amor

April 18, 2016

Frankfurt (Germany) – Funds advised by Gilde Buy Out Partners ('Gilde') announce the acquisition of the amor Group ('amor') from funds advised by 3i Group plc and funds managed by 3i ('3i'). Pursuant to the transaction, the management team of amor, led by Marcus Hoffmann, will become a significant shareholder in the company. The new shareholders intend to further support the company's growth trajectory initiated during the ownership of 3i. The terms of the agreement have not been disclosed.

amor, headquartered in Obertshausen near Frankfurt and employing c. 400 FTEs, is a full-service system provider in the affordable gold and silver jewellery segment and the leading player in the German real affordable jewellery market. amor offers up to 4,500 SKU's and manages more than 2,900 point of sales across Europe and in selected countries globally. Key distribution channels are department stores, jewellery stores, hypermarkets and own retails shops.

In order to support amor during its next phase of development, management has chosen to partner with Gilde, a well-established financial investor with a strong track record in developing mid-market companies in Germany. The new investor fully supports the growth strategy envisaged by management, which centers on the intensification of its relationship with key customers as well as a further internationalization. The operational management of amor will remain with the incumbent management team who has successfully developed amor into the leading provider of affordable precious jewellery.

Marcus Hoffmann, CEO of amor:

"We have found a strong partner in Gilde, which is able to provide support to the envisaged growth strategy. amor has strengthened its market position under the ownership of 3i and we will continue on this path with Gilde. The management team will remain unchanged. This ensures continuity and we will focus all our efforts on achieving the envisaged growth targets."

Matthias Wilcken, Partner at Gilde, confirms:

"amor is a uniquely positioned retail systems provider in the market for affordable authentic jewellery, offering significant growth potential across markets, channels and products. We are delighted at the prospect of working with management and supporting them during the next stage of the company's development."

Peter Wirtz, Partner at 3i:

"The development of amor in recent years has been very positive and we have supported the management team to drive the internationalization of the business and establish amor as the market leader in its niche. The outlook for the company continues to look favorable. The company is being led by a strong and visionary management team that has received with Gilde a new, supportive partner. We wish management and the new majority investor all the best."

The transaction is subject to approval by the relevant anti-trust authorities.

amoramor Group is one of the most successful, vertically integrated suppliers of affordable precious jewellery. The company was founded in 1978 and is headquartered in Obertshausen near Frankfurt/Main. The company sells over 5 million pieces of jewellery annually at more than 2,900 point of sales in 24 countries. amor distributes a product portfolio including rings, earrings, chains, bracelets and charms through diverse sales channels.

3i3i is a leading international investment manager focused on mid-market private equity, infrastructure and debt management across Europe, Asia and North America. For further information, please visit: www.3i.com

Gilde Buy Out PartnersGilde Buy Out Partners is a leading European private equity investor in mid-market transactions with operations in the DACH region and the Benelux. Gilde manages funds in excess of EUR 3 billion and has offices in Zurich/Frankfurt, Utrecht and Brussels. Since its inception in 1982, Gilde has invested in over 250 companies across a diverse range of sectors. With EUR 1.1 billion, the current investment fund "Gilde Buy Out Fund V" is among the largest dedicated mid-market buy-out investment funds in Europe. Gilde controls majority shareholdings in, amongst others, companies like Comcave, Riri, Eismann, Royal Ten Cate, Teleplan and Enkco. For more information, please visit www.gilde.com